The Dangote Group, led by Aliko Dangote, is set to become the world’s largest fertilizer producer by 2028, with plans to increase output from 3 million tonnes of urea to 12 million tonnes in the next three years.
Dangote announced this ambitious goal on Thursday at the Imo Economic Summit, highlighting the group’s heavy investment in fertilizer production.
“We are investors and I can tell you in the next three years, the programme that we have in the group, we’re investing heavily in fertiliser,” Dangote said.
He praised the federal government’s recent policy decisions, stating that the reforms are beginning to yield results.
“There are very good policies, bold policies that the government has taken today the exchange rate, the removal of the fuel subsidy, so many other things that the government has
actually put out there,” he added.
Dangote commended President Bola Tinubu’s leadership, expressing optimism about future reforms.
He also urged Nigerian and African investors to take the lead in driving economic growth, emphasizing that foreign investment follows domestic commitment.
“Our job is to keep investing at home. If we don’t invest at home, there is nobody on earth that will come and invest here,” he said.
The billionaire referenced a recent CNN interview where he explained his decision to double the capacity of his refinery.
“I don’t have anywhere to go and invest but at home. When I say at home, I mean Nigeria and Africa,” he said, highlighting the continent’s vast mineral resources and the need for local investors to lead the way.
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